Newspaper article Sarasota Herald Tribune

Florida Still No. 1 for Completed Foreclosures

Newspaper article Sarasota Herald Tribune

Florida Still No. 1 for Completed Foreclosures

Article excerpt

HOUSING MARKET

Florida remains No. 1 in the nation for completed foreclosures.

Mortgage lenders closed on 51,256 foreclosures in Florida during the 12-month period ended in October, data provider CoreLogic reported Tuesday.

The state accounted for 12.5 percent of all the foreclosures nationwide in the past year, although that share was down from 17.4 percent a year ago.

Foreclosure activity is clearly trending down in Florida, with nearly 35,000 fewer properties, or 40 percent, in distress than at this time last year.

Florida's foreclosure inventory -- the share of mortgaged homes in some stage of the process -- stood at 1.4 percent in October, tied for sixth-highest in the nation.

While the state's foreclosure inventory is down from 2.5 percent over the year, it is still nearly double the U.S. rate of 0.8 percent.

"Housing and labor markets improved over the past year, setting the stage for further declines in foreclosure rates across

much of the nation," said Anand Nallathambi, president/CEO of CoreLogic. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.